Sen. Marcos tags admin for ignoring pleas of senior citizens over SSS pension hike

Press Releases
4 February 2016

Senator Ferdinand “Bongbong” R. Marcos, Jr. today lashed at the administration for ignoring the pleas of senior citizens after the House of Representatives squelched efforts to override the President’s veto of the SSS (Social Security System) pension hike bill.

Representatives of senior citizens groups trooped Wednesday to the administration-dominated Lower House to press lawmakers for the override but the chamber adjourned abruptly without giving proponents of the override a chance to air their proposal.

“That added insult to injury. I respect the prerogative of the House leadership but I think it would have been a lot better if the proponents of the override were at least given a chance to speak out,” said Marcos.

“It’s clear that the fate of the SSS pension hike bill was decided in accordance with the administration’s position on this issue,” he added.

Malacanang had warned that if the P2,000 pension hike is implemented the SSS would be bankrupt by year 2027 and insisted that the veto of the proposal is necessary to prevent the collapse of the agency.

Marcos backed moves in the Senate to override the veto on the SSS pension hike bill. However the move to override must come from the House of Representatives where the bill originated.

He reiterated that a more competent management would save the SSS from the threat of bankruptcy.

“If the management of the SSS did a better job in terms of collections, if they did a better job in terms of investments, they could afford it,” Sen. Marcos explains.

He noted the poor collection rate of SSS, which is below 40 percent.

“No organization that only collects 35 percent of its receivables is ever going to succeed. Ask any businessman. Yung utang sayo, 35 percent lang yung nakokolekta mo, eh wala talagang mangyayari sa organization mo. Malulugi talaga iyan eventually,” he added.

Marcos said the government must be more compassionate on retired and elderly workers, many of whom are relying mainly on their SSS pension for their daily expenses.